Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Operating Expenses:        
Research and Development $ 888 $ 980 $ 1,853 $ 1,986
General and Administrative 499 51 1,066 104
Total operating expenses 1,387 1,031 2,919 2,090
Loss from operations (1,387) (1,031) (2,919) (2,090)
Interest income    1    2
Realized gain on sale of marketable securities 480    480   
Other expense (2)    (2)   
Fair value of warrant liabilities in excess of proceeds from financing       (946)   
Change in fair value of derivative liabilities 5,639    7,744   
Total other income, net 6,117 1 7,276 2
Income (loss) before income taxes 4,730 (1,030) 4,357 (2,088)
Income taxes            
Net income (loss) 4,730 (1,030) 4,357 (2,088)
Comprehensive income (loss):        
Net income (loss) 4,730 (1,030) 4,357 (2,088)
Unrealized loss on marketable securities 3,354    1,827   
Total comprehensive loss $ 8,084 $ (1,030) $ 6,184 $ (2,088)
Net loss per common share:        
Basic loss per share $ 0.01 $ (0.02) $ 0.01 $ (0.04)
Weighted average common shares outstanding, basic 326,760 57,255 326,160 57,255
Diluted loss per share $ 0.00 $ (0.02) $ (0.01) $ (0.04)
Weighted average common shares outstanding, diluted 326,760 57,255 326,160 57,255